What are the key features of payroll software?

What are the key features of payroll software?

Payroll management software is a great innovation that has been around for a while and has helped organizations and HR teams to function far more efficiently than the traditional paper-based payroll process. Payroll software however, need to have the below mentioned features to be the best-in-class solution:

Types:

Integrated Payroll Software– works in collaboration with other HR system like attendance management, bio-metric system, rosters, performance, etc.

Dedicated Payroll Software– works separately as a standalone application and does all the functioning and even beyond. But they can also integrate with HRMS due to customization abilities.

Deployment specific– based on-cloud or on-premises.

Business size specific– varies from organization size, whether SME or a large enterprise.

Target Market specific– based on the industry the organization belongs to.

Mobility– modern payroll software also offers mobile version for its users for better connectivity and easy access.

ESS– are meant for easy access of all payroll related information for every employee’s use individually.

Employee organization by pay-grade– this is to distinguish employees based on their pay scale and position in the organization for efficient payroll processing.

Supports how employees are paid– the software should be designed to the variety of how employees are paid, it could be directly to account salaries, through cheque or cash. Paid on monthly basis weekly wages, etc.

Value Offerings:

Automation

Scalability of employee size

Data Security

Customization

Accuracy with no scope for errors

Easy implementation both on-cloud and on-premise

Short learning curve

Fully directive of the parameters

Smart Upgrades

Easy maintenance and low costs

Managed support from the back-end

SHRMpro is an all-inclusive, well-integrated, available both on-cloud and on-premise HRMS software offering payroll management as a distinct module with all the above mentioned features and value offerings to its customers, suitable for organizations of all sizes and every industry.